D01.SI
SGX50SESDFI Retail Group Holdings Limited
Consumer Defensive · Grocery Stores · Hong Kong
DFI Retail Group Holdings Limited, together with its subsidiaries, engages in the retail business in Mainland China, Hong Kong, Macau, Taiwan, Brunei, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. It operates through six segments: Health and Beauty, Convenience, Food, Home Furnishings, Restaurants, and Other Retailing. The company is involved in the operation of health and beauty stores under the Mannings and Guardian brands; convenience stores under the 7-Eleven brand; food and grocery stores under the Wellcome, Market Place, Oliver's, 3hreesixty, San Miu, Lucky, and Cold Storage brands; home furnishings stores under the IKEA brand; restaurants under the Maxim's, COVA, Genki Sushi, Shake Shack, Starbucks Coffee, and The Cheesecake Factory brands; and department, specialty, and DIY stores under the Robinson Retail brand. It also engages in property and food processing retail under the Meadows, Giant, Yu Pin King, Vitapet, and Mannings Guardian brands; and customer loyalty programme services under the yuu brand. The company was formerly known as Dairy Farm International Holdings Limited and changed its name to DFI Retail Group Holdings Limited in May 2022. DFI Retail Group Holdings Limited was incorporated in 1886 and is based in Quarry Bay, Hong Kong. The company operates as a subsidiary of Jardine Strategic Limited.
www.dfiretailgroup.com ↗Shares trade at a moderate 21.5× trailing earnings, easing to 15.5× on forward estimates. Profitability shows a net margin of 2.6% and return on equity of 53.6%. Leverage is high at 4.3× net debt/EBITDA. Revenue grew 0.4% year-on-year. It yields 3.8% in dividends. The mean analyst target of USD5.11 sits 39.7% above the current price (Strong Buy, 11 analysts).
business model
DFI Retail Group (formerly Dairy Farm International) is a pan-Asian retailer operating supermarkets, convenience stores, health-and-beauty chains, home-furnishings and restaurants across Greater China, Southeast Asia and beyond. It runs wholly owned banners and holds strategic stakes in associates, reporting in USD as part of the Jardine group.
revenue segments
Its divisions are Food (supermarkets/hypermarkets such as Cold Storage, Giant and Wellcome), Convenience (7-Eleven in Hong Kong, Singapore and South China), Health and Beauty (Guardian and Mannings), and Home Furnishings (IKEA in Hong Kong, Taiwan and Indonesia). It also holds associate interests including Maxim's (bakery/restaurants) and previously Yonghui and Robinsons Retail.
key dependencies
It depends on Hong Kong and Chinese consumer spending, foot traffic and tourism, cost management and store productivity, associate earnings, and competition from e-commerce and discounters. USD reporting means regional currencies affect results.
competitors
Competitors include Sheng Siong and NTUC FairPrice in Singapore, Hong Kong grocery and drugstore rivals, regional convenience-store operators, e-commerce platforms, and other pan-Asian retailers.
moat
Its moat comes from scale and established retail brands across multiple Asian markets, leading positions in Hong Kong health-and-beauty and convenience, and supply-chain and real-estate footprint.
risks
Risks include weak Hong Kong and China consumer demand, e-commerce disruption and margin pressure, associate performance volatility, restructuring execution, and currency translation.
Financials & metrics
as of 04 Jul 2026Price is around the middle of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
Tap any metric for an explanation.● provider● computedN/A not available from source
Dividends
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.